Maxim Integrated Products (NASDAQ:MXIM) Rating Lowered to Hold at BidaskClub

BidaskClub cut shares of Maxim Integrated Products (NASDAQ:MXIM) from a buy rating to a hold rating in a research report sent to investors on Tuesday, BidAskClub reports.

A number of other equities research analysts have also recently weighed in on the company. Barclays upped their price target on Shopify from $155.00 to $225.00 and gave the stock an equal weight rating in a report on Wednesday, May 1st. Royal Bank of Canada set a €145.00 ($168.60) price target on Aena SME and gave the stock a sell rating in a report on Tuesday, April 30th. Maxim Group restated a buy rating on shares of Abeona Therapeutics in a report on Wednesday, May 1st. Cowen restated a hold rating and issued a $103.00 price target on shares of United Therapeutics in a report on Wednesday, May 1st. Finally, Deutsche Bank cut Hilton Hotels from a buy rating to a hold rating and set a $92.60 price target on the stock. in a report on Wednesday, May 1st. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $61.50.

MXIM opened at $62.04 on Tuesday. The firm has a market cap of $16.96 billion, a PE ratio of 22.89, a P/E/G ratio of 1.97 and a beta of 1.42. The company has a current ratio of 6.46, a quick ratio of 5.77 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $57.31. Maxim Integrated Products has a 1-year low of $46.64 and a 1-year high of $63.68.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. The business had revenue of $542.38 million for the quarter, compared to analysts’ expectations of $540.17 million. Maxim Integrated Products had a return on equity of 40.16% and a net margin of 27.36%. The company’s revenue was down 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. As a group, equities analysts expect that Maxim Integrated Products will post 2.44 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Thursday, May 30th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Wednesday, May 29th. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 67.90%.

In other Maxim Integrated Products news, VP Vivek Jain sold 14,246 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $60.58, for a total transaction of $863,022.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Tunc Doluca sold 14,000 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $60.00, for a total value of $840,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,246 shares of company stock worth $3,243,413. 0.85% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the business. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Maxim Integrated Products during the 4th quarter worth $279,000. First Republic Investment Management Inc. lifted its stake in shares of Maxim Integrated Products by 3.4% during the 1st quarter. First Republic Investment Management Inc. now owns 18,786 shares of the semiconductor company’s stock worth $999,000 after purchasing an additional 615 shares during the period. Cordatus Wealth Management LLC purchased a new position in shares of Maxim Integrated Products during the 1st quarter worth $940,000. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Maxim Integrated Products by 78.9% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 302,911 shares of the semiconductor company’s stock worth $15,403,000 after purchasing an additional 133,549 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Maxim Integrated Products by 2.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 40,852 shares of the semiconductor company’s stock worth $2,171,000 after purchasing an additional 890 shares during the period. 93.38% of the stock is currently owned by institutional investors.

Maxim Integrated Products Company Profile

Maxim Integrated Products, Inc designs, develops, manufactures, and markets a range of linear and mixed-signal integrated circuits in the United States, China, the rest of Asia, Europe, and internationally. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs.

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Analyst Recommendations for Maxim Integrated Products (NASDAQ:MXIM)

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